Homework Answers
1. Stockholders’ equity
2. Asset
3. Liability
4. Revenue
5. Expense
6. Asset
7. Expense
8. Asset
9. Liability
10. Liability
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Problem 1-2A Assign account classifications (L01-2) Account classifications include assets, liabilities, stockholders' equity, dividends, revenues, and...
Problem 1-2A Assign account classifications (LO1-2) Account classifications include assets, liabilities, stockholders' equity, dividends, revenues, and...
Problem 1-2A Assign account classifications (LO1-2) Account classifications include assets, liabilities, stockholders' equity, dividends, revenues, and expenses. Required: For each transaction, select whether the related account would be classified in the balance sheet as an asset, a liability, or stockholders' equity; in the income statement as a revenue or an expense; or in the statement of stockholders' equity as a dividend. Account Classifications Accounts Related Transactions 1. Common stock Sale of common stock to investors. 2. Equipment Equipment used for...
What's retained earnings. total stockholders' equity, and total liabilities and stockholders' equity? Accounts receivable $3,400 Cash...
What's retained earnings.
total stockholders' equity, and total liabilities and stockholders'
equity?
Accounts receivable $3,400 Cash $6.240 Accounts payable 3,700 Supplies 3,780 Interest payable 530 Unearned service revenue 940 Salaries and wages expense 5,400 Service revenue 41,850 Notes payable 32,500 Salaries and wages payable 770 Common stock 55,000 Depreciation expense 740 Inventory 2,810 Equipment (net) 110,600 Using the information above, prepare a balance sheet as of December 31, 2022. (List assets in order of liquidity.) Cullumber Company Balance Sheet December...
BLOSSOM COMPANY Balance Sheet Assets Cash $28,600 Supplies Equipment (net) 62,100 Total assets Liabilities and Stockholders'...
BLOSSOM COMPANY Balance Sheet Assets Cash $28,600 Supplies Equipment (net) 62,100 Total assets Liabilities and Stockholders' Equity Liabilities Notes payable $22.000 Stockholders' Equity Common stock 39,000 Retained earnings Total liabilities and stockholders' equity BLOSSOM COMPANY Income Statement Revenues $61,500 Depreciation expense Salaries and wages expense 11,500 Interest expense 1,800 Net Income $26,400 Notes payable $22,000 Stockholders' Equity Common stock 39,000 Retained earnings Total liabilities and stockholders' equity (d) BLOSSOM COMPANY Income Statement Revenues $61,500 Depreciation expense Salaries and wages expense...
Problem 1-4A Understand the format of financial statements and the links among them (L01- Below are...
Problem 1-4A Understand the format of financial statements and the links among them (L01- Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. BULLDOG, INC. Income Statement 33,500 Revenues Expenses: Salaries Advertising Utilities Net income 4.900 2,900 BULLDOG, INC. Statement of Stockholders' Equity Total Common Retained Stockholders' Stock Earnings Equity Beginning balance $ 8,900 $ 5,900 $ 14,800 Issuances 1,200 1,200 Add: Net income Less: Dividends Ending balance (1,900) 8,900 (1,900) 19,000 $ 10,100 $ $...
Balance Sheet Accounts Assets Liabilities Equity Income Statement Accounts (Part of Equity) Revenues Expenses Question Viewer...
Balance Sheet Accounts Assets Liabilities Equity Income Statement Accounts (Part of Equity) Revenues Expenses Question Viewer Che femna tint on than in Chan Anwar as the following accounts: the accounts.) for Raymond Autobody Shop using the standard numbering system. Each account is separated by a factor of and the next asset account will 110. (Use the first available line under each section, Asset, Liabilities, etc., wher box empty; do not select any labels.) Baland 0 More Info Accounts Payable Cash...
Problem 1-4A Understand the format of financial statements and the links among them (L01-3) Below are...
Problem 1-4A Understand the format of financial statements and the links among them (L01-3) Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. 29,500 BULLDOG, INC. Income Statement Revenues $ Expenses: Salaries Advertising Utilities 4,100 2,100 Net income BULLDOG, INC. Statement of Stockholders' Equity Common Retained Total Stockholders' Stock Earnings Equity Beginning balance $ 8,100 $ 5,100 $ 13,200 Issuances 1,100 1,100 Add: Net income Less: Dividends (1,100) (1,100) Ending balance $ 9,200 $ 8,100 $...
Supplie Buildings Advertising expense Equipment Purchase factory for operations. Pay for cost of advertising. Purchase equipment...
Supplie Buildings Advertising expense Equipment Purchase factory for operations. Pay for cost of advertising. Purchase equipment for operations Requir Calcula P1-5B 7.Interest expense Pay for cost of interest. Purchase supplies on credit. Distribute cash to stockholders. Borrow from the bank. Accounts payable 9Dividends 10. Notes payable Required: For each transaction, indicate whether the related account would be classified in the balance sheet as (a) an asset, (tb) a liability, or (c) stockholders' equity; in the income statement as (d) a...
Exercise 1-3A Identify account classifications and business activities (LO1-2) Wildcat Corporation has the following transactions with...
Exercise 1-3A Identify account classifications and business activities (LO1-2) Wildcat Corporation has the following transactions with Falcon Incorporated. points Required: 1., 2., & 3. For each transaction, indicate whether Wildcat would report the related account in the balance sheet or income statement For accounts in the balance sheet, indicate whether it would be classified as an asset, liability, or stockholders' equity. For accounts in the income statement, indicate whether it would be classified as a revenue or an expense. Indicate...
Please answer B3 Assets, Liability and stockholders equity. Problem 4-02A a-e (Part Level Submission) The adjusted...
Please answer B3 Assets, Liability and stockholders
equity.
Problem 4-02A a-e (Part Level Submission) The adjusted trial balance columns of the worksheet for Ayayai Company are as follows. . 130 157 Ayayai Company Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account No. Account Titles Dr. Cr. 101 Cash 5,000 112 Accounts Receivable 10,500 126 Supplies 1,200 Prepaid Insurance 1,800 Equipment 26,500 158 Accumulated Depreciation-Equipment 5,000 200 Notes Payable 12,000 201 Accounts Payable 5,800 212 Salaries and...
Income Statement Statement of Stockholders' Equity Revenues #33|| Common stock Retained earnings Expenses: Beginning) $450,000 $321,000...
Income Statement Statement of Stockholders' Equity Revenues #33|| Common stock Retained earnings Expenses: Beginning) $450,000 $321,000 Salaries $456,000 Issuance #35 Administrative 245,000 Net income 210,000 Utilities 8.000 Dividends #36 Total expenses 709,000| Ending) $500,000 $501.000 Net income #34 Balance Sheet Assets Liabilities Cash $25,000 Accounts payable $14,000 A/R 30,000 Notes payable T 2 50.000 Supplies #37 Total liabilities $264,000 Prepaid rent 2,000 Stockholders' Equity Equipment 207,800 Common stock Building 1,000,000 Retained earnings Total stockholders' equity #39 Total assets #38 Total...
Problem 1-2A Assign account classifications (LO1-2) Account classifications include assets, liabilities, stockholders' equity, dividends, revenues, and expenses. Required: For each transaction, select whether the related account would be classified in the balance sheet as an asset, a liability, or stockholders' equity; in the income statement as a revenue or an expense; or in the statement of stockholders' equity as a dividend. Account Classifications Accounts Related Transactions 1. Common stock Sale of common stock to investors. 2. Equipment Equipment used for...
What's retained earnings.
total stockholders' equity, and total liabilities and stockholders'
equity?
Accounts receivable $3,400 Cash $6.240 Accounts payable 3,700 Supplies 3,780 Interest payable 530 Unearned service revenue 940 Salaries and wages expense 5,400 Service revenue 41,850 Notes payable 32,500 Salaries and wages payable 770 Common stock 55,000 Depreciation expense 740 Inventory 2,810 Equipment (net) 110,600 Using the information above, prepare a balance sheet as of December 31, 2022. (List assets in order of liquidity.) Cullumber Company Balance Sheet December...
BLOSSOM COMPANY Balance Sheet Assets Cash $28,600 Supplies Equipment (net) 62,100 Total assets Liabilities and Stockholders' Equity Liabilities Notes payable $22.000 Stockholders' Equity Common stock 39,000 Retained earnings Total liabilities and stockholders' equity BLOSSOM COMPANY Income Statement Revenues $61,500 Depreciation expense Salaries and wages expense 11,500 Interest expense 1,800 Net Income $26,400 Notes payable $22,000 Stockholders' Equity Common stock 39,000 Retained earnings Total liabilities and stockholders' equity (d) BLOSSOM COMPANY Income Statement Revenues $61,500 Depreciation expense Salaries and wages expense...
Problem 1-4A Understand the format of financial statements and the links among them (L01- Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. BULLDOG, INC. Income Statement 33,500 Revenues Expenses: Salaries Advertising Utilities Net income 4.900 2,900 BULLDOG, INC. Statement of Stockholders' Equity Total Common Retained Stockholders' Stock Earnings Equity Beginning balance $ 8,900 $ 5,900 $ 14,800 Issuances 1,200 1,200 Add: Net income Less: Dividends Ending balance (1,900) 8,900 (1,900) 19,000 $ 10,100 $ $...
Balance Sheet Accounts Assets Liabilities Equity Income Statement Accounts (Part of Equity) Revenues Expenses Question Viewer Che femna tint on than in Chan Anwar as the following accounts: the accounts.) for Raymond Autobody Shop using the standard numbering system. Each account is separated by a factor of and the next asset account will 110. (Use the first available line under each section, Asset, Liabilities, etc., wher box empty; do not select any labels.) Baland 0 More Info Accounts Payable Cash...
Problem 1-4A Understand the format of financial statements and the links among them (L01-3) Below are incomplete financial statements for Bulldog, Inc. Required: Calculate the missing amounts. 29,500 BULLDOG, INC. Income Statement Revenues $ Expenses: Salaries Advertising Utilities 4,100 2,100 Net income BULLDOG, INC. Statement of Stockholders' Equity Common Retained Total Stockholders' Stock Earnings Equity Beginning balance $ 8,100 $ 5,100 $ 13,200 Issuances 1,100 1,100 Add: Net income Less: Dividends (1,100) (1,100) Ending balance $ 9,200 $ 8,100 $...
Supplie Buildings Advertising expense Equipment Purchase factory for operations. Pay for cost of advertising. Purchase equipment for operations Requir Calcula P1-5B 7.Interest expense Pay for cost of interest. Purchase supplies on credit. Distribute cash to stockholders. Borrow from the bank. Accounts payable 9Dividends 10. Notes payable Required: For each transaction, indicate whether the related account would be classified in the balance sheet as (a) an asset, (tb) a liability, or (c) stockholders' equity; in the income statement as (d) a...
Exercise 1-3A Identify account classifications and business activities (LO1-2) Wildcat Corporation has the following transactions with Falcon Incorporated. points Required: 1., 2., & 3. For each transaction, indicate whether Wildcat would report the related account in the balance sheet or income statement For accounts in the balance sheet, indicate whether it would be classified as an asset, liability, or stockholders' equity. For accounts in the income statement, indicate whether it would be classified as a revenue or an expense. Indicate...
Please answer B3 Assets, Liability and stockholders
equity.
Problem 4-02A a-e (Part Level Submission) The adjusted trial balance columns of the worksheet for Ayayai Company are as follows. . 130 157 Ayayai Company Worksheet For the Year Ended December 31, 2019 Adjusted Trial Balance Account No. Account Titles Dr. Cr. 101 Cash 5,000 112 Accounts Receivable 10,500 126 Supplies 1,200 Prepaid Insurance 1,800 Equipment 26,500 158 Accumulated Depreciation-Equipment 5,000 200 Notes Payable 12,000 201 Accounts Payable 5,800 212 Salaries and...
Income Statement Statement of Stockholders' Equity Revenues #33|| Common stock Retained earnings Expenses: Beginning) $450,000 $321,000 Salaries $456,000 Issuance #35 Administrative 245,000 Net income 210,000 Utilities 8.000 Dividends #36 Total expenses 709,000| Ending) $500,000 $501.000 Net income #34 Balance Sheet Assets Liabilities Cash $25,000 Accounts payable $14,000 A/R 30,000 Notes payable T 2 50.000 Supplies #37 Total liabilities $264,000 Prepaid rent 2,000 Stockholders' Equity Equipment 207,800 Common stock Building 1,000,000 Retained earnings Total stockholders' equity #39 Total assets #38 Total...
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